Australia's consumer price index rose 3.8% year-on-year in June, data from the Australian Bureau of Statistics showed on the 29th, slowing from 4.0% in May and coming in below market expectations of 4.0%. A sharp decline in automotive fuel prices, down 10.9% month-on-month and 7.3% year-on-year, weighed on the overall figure. Meanwhile, electricity prices, where government subsidies ended, posted a high increase of 22.4% year-on-year. Underlying inflation, which strips out special factors, was unchanged from the previous month at 3.6%, still above the Reserve Bank of Australia's target range of 2% to 3%.